How do you know of lender is a scam

[Melkon Kechichian]

Has anyone heard of the private lending company Gallon finance corp ? I heard there was some companies scamming out there , how can you be scammed and does this often happen ? They want 3,500 to process the application and of your not approved you get it back. Please advise.

[Jay Hinrichs]

only time a big fee like that is appropriate is with a complicated commercial deal.

if this is just a fix and flip resi funding.. most likely U send the money you will never get it back.

matter of fact i will almost guarantee it.. there is no reason for a legit lender to charge big up front fee unless said fee is an income stream for them like a do hard money does.